Advisors Asset Management Inc. Sells 186 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

Advisors Asset Management Inc. cut its holdings in Martin Marietta Materials, Inc. (NYSE:MLM) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,809 shares of the construction company’s stock after selling 186 shares during the period. Advisors Asset Management Inc.’s holdings in Martin Marietta Materials were worth $12,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $32,000. Kestra Investment Management LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $35,000. Hopwood Financial Services Inc. bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC boosted its holdings in Martin Marietta Materials by 91.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock worth $37,000 after buying an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in Martin Marietta Materials in the 4th quarter worth approximately $41,000. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James cut their price objective on shares of Martin Marietta Materials from $630.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Barclays cut their price target on shares of Martin Marietta Materials from $645.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Hsbc Global Res raised shares of Martin Marietta Materials from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial cut their price target on shares of Martin Marietta Materials from $670.00 to $610.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Stephens lowered their price objective on shares of Martin Marietta Materials from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $634.36.

Insider Activity

In other Martin Marietta Materials news, EVP Donald A. Mccunniff sold 1,332 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $475.00, for a total value of $632,700.00. Following the completion of the transaction, the executive vice president now directly owns 3,523 shares in the company, valued at $1,673,425. This represents a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael J. Petro purchased 550 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $454.37 per share, with a total value of $249,903.50. Following the completion of the transaction, the senior vice president now owns 8,985 shares of the company’s stock, valued at approximately $4,082,514.45. This trade represents a 6.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.68% of the stock is owned by corporate insiders.

Martin Marietta Materials Trading Up 2.5 %

Shares of MLM opened at $489.30 on Tuesday. The firm’s 50-day moving average price is $513.52 and its 200-day moving average price is $540.64. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 4.45 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.56. Martin Marietta Materials, Inc. has a 1-year low of $448.50 and a 1-year high of $633.23.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, February 12th. The construction company reported $4.79 EPS for the quarter, topping the consensus estimate of $4.62 by $0.17. Martin Marietta Materials had a net margin of 30.54% and a return on equity of 12.11%. Sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, March 3rd. This represents a $3.16 annualized dividend and a dividend yield of 0.65%. Martin Marietta Materials’s payout ratio is 9.77%.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.